Definition of "overinsurance"
  1. Occurs when the value of an insurance policy or policies surpasses the actual worth of the item protected
How to use "overinsurance" in a sentence
  1. The property owner discovered that overinsurance was in place after evaluating the worth of their assets and insurance policies.
  2. The regulator flagged the practice of overinsurance as potentially problematic for insurers.
  3. Overinsurance can serve as a safety net, but it can also lead to unnecessary costs.

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